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Most recent/Bond comments/Ad
Most recent
Like many senior sukuk from the Gulf, local investors will drive demand
◆ Weaker backdrop for FIG issuance ◆ Deal printed with a negligible spread above previous, shorter bond ◆ Nearly triple digit spread lures investors
◆ Rising investor sensitivity due to tight unsecured FIG spreads ◆ Deal centred around real money orders after hitting €4.5bn peak book ◆ Hardly any concession left on shorter tranche, minimal on longer one
Despite the boost in demand, overall unsecured supply still lags behind 2025, with the bulk of recent supply coming in covered bonds
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OP Corporate Bank cautiously announced potential plans to issue a debut green bond this week, after a month of dire issuance volumes. But some large banks have signalled in results they may still sell bonds before the year is out.
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Mirae Asset Daewoo Co became the first securities firm from South Korea to tap the international bond market this week, when it issued $300m on Wednesday.
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Agricultural Bank of China's Hong Kong branch became one of only two issuers to print floating rate notes (FRNs) in October, raising $800m on Wednesday.
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On Wednesday, OP Corporate Bank announced tentative plans to issue a debut green bond, after a month of dire issuance volumes — the lowest October volume for euro-denominated bond sales from banks since the single currency was introduced.
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The status of bonds used to meet banks’ minimum requirements for own funds and eligible liabilities (MREL) and issued under English law has become a hot topic in the face of Brexit uncertainty. But many in the market are sanguine about a solution being found and there are obstacles for investors seeking to speculate on the outcome.
